CalAmp Corp. (CAMP) Lowered to “Hold” at Zacks Investment Research
CalAmp Corp. (NASDAQ:CAMP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “CalAmp Corp. is a leading provider of wireless communications products that enable anytime/anywhere access to critical information, data and entertainment content. With comprehensive capabilities ranging from product design and development through volume production, CalAmp delivers cost-effective high quality solutions to a broad array of customers and end markets. CalAmp is the leading supplier of Direct Broadcast Satellite outdoor customer premise equipment to the U.S. satellite television market. The Company also provides wireless data communication solutions for the telemetry and asset tracking markets, private wireless networks, public safety communications and critical infrastructure and process control applications. “
A number of other research analysts have also recently commented on the company. B. Riley reissued a “buy” rating and issued a $28.00 price target on shares of CalAmp Corp. in a report on Wednesday. J P Morgan Chase & Co downgraded CalAmp Corp. from a “neutral” rating to an “underweight” rating and set a $22.00 price target for the company. in a research note on Wednesday. Northland Securities reaffirmed a “buy” rating and set a $25.00 price objective on shares of CalAmp Corp. in a report on Sunday. Canaccord Genuity increased their price objective on shares of CalAmp Corp. from $23.00 to $26.00 and gave the company a “buy” rating in a report on Friday, September 29th. Finally, Craig Hallum lifted their price objective on shares of CalAmp Corp. from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, September 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $23.75.
Shares of CalAmp Corp. (CAMP) traded down 3.45% during trading on Wednesday, hitting $23.26. 852,361 shares of the stock were exchanged. The firm has a 50 day moving average of $19.48 and a 200-day moving average of $18.75. CalAmp Corp. has a 52-week low of $12.13 and a 52-week high of $24.69. The stock has a market cap of $828.08 million, a PE ratio of 215.37 and a beta of 1.60.
CalAmp Corp. (NASDAQ:CAMP) last released its quarterly earnings data on Thursday, September 28th. The Wireless communications provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. CalAmp Corp. had a return on equity of 18.18% and a net margin of 1.31%. The firm had revenue of $89.80 million during the quarter, compared to analyst estimates of $88.72 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. Equities research analysts anticipate that CalAmp Corp. will post $1.17 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of CAMP. Thrivent Financial For Lutherans boosted its position in shares of CalAmp Corp. by 0.8% during the 1st quarter. Thrivent Financial For Lutherans now owns 19,970 shares of the Wireless communications provider’s stock valued at $335,000 after acquiring an additional 160 shares during the last quarter. Texas Permanent School Fund grew its holdings in shares of CalAmp Corp. by 0.7% in the second quarter. Texas Permanent School Fund now owns 25,808 shares of the Wireless communications provider’s stock valued at $525,000 after purchasing an additional 170 shares in the last quarter. Mason Street Advisors LLC increased its position in CalAmp Corp. by 4.3% in the first quarter. Mason Street Advisors LLC now owns 8,280 shares of the Wireless communications provider’s stock worth $139,000 after purchasing an additional 341 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in CalAmp Corp. by 0.5% in the second quarter. TIAA CREF Investment Management LLC now owns 96,324 shares of the Wireless communications provider’s stock worth $1,958,000 after purchasing an additional 468 shares during the last quarter. Finally, Baker Avenue Asset Management LP increased its position in CalAmp Corp. by 1.5% in the second quarter. Baker Avenue Asset Management LP now owns 48,492 shares of the Wireless communications provider’s stock worth $986,000 after purchasing an additional 736 shares during the last quarter. 72.88% of the stock is currently owned by institutional investors and hedge funds.
CalAmp Corp. Company Profile
CalAmp Corp. (CalAmp) is a provider of wireless communications solutions for a range of applications to customers globally. The Company operates through two business segments: Wireless DataCom and Satellite. The Company’s Wireless DataCom segment offers solutions for mobile resource management (MRM) applications, the machine-to-machine (M2M) communications space and other markets that require connectivity anytime and anywhere.
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